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KB Home sells 60 new homes since May in Lathrop project

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POSTED November 26, 2009 2:18 a.m.
LATHROP – The mortgage meltdown and home foreclosures have dominated the news from Lathrop in the last several months.

But since spring, there has been a silver lining rising on the residential horizon at Mossdale Landing which has been Lathrop’s ground zero of the housing foreclosures.

Approximately 60 new homes have been constructed and sold by KB Home since May, acting city engineer Tom Ruark said during the Lathrop Council study session Tuesday night.

These were not spec homes but houses that were sold before the start of construction, Ruark said in response to a question from a council member.

Another developer, in yet another sign that the long anticipated housing-market rebound is slowly inching up in Lathrop, has even gone as far as starting to build four model homes which has been the common practice at the height of the housing market boom about four years ago when builders could hardly keep up with the demand from home buyers.

Yet another developer is in the final phase of completing the model homes in its 69-unit residential subdivision, Ruark told the council members present – Vice Mayor Martha Salcedo who presided over the meeting for Mayor Kristy Sayles who was absent, Sonny Dhaliwal and Christopher Mateo. Councilman Robert Oliver was also absent.

Spearheading the housing market rebound in the Mossdale Landing area are Legacy Homes, which purchased the 69-unit property that it is developing from Shea Homes, and Axios Homes which bought the former Syncon Homes’ 70-unit development project on the northwest corner of McKee and Johnson Ferry boulevards.

The 60 new homes that have been sold since May are in the KB Home subdivision located south of the Mossdale Fire Station.

The Lathrop Council action
Other reports received by the council from staff included the following:

• Completion of the $2 million intersection widening and traffic-light installation at Harlan Road and J Street.

• Completion of the mandated traffic study for the proposed Gordon Trucking project which is expected to generate more than 50 new jobs. The project is located in the industrial area along North Harlan Road north of Pets and Pals and the Stonebridge residential subdivision, just south of Roth Road.

• Completion of the grade separation on the levee where the Bradshaw Crossing bridge will be constructed that will connect the River Islands at Lathrop development at Stewart Tract to the rest of Lathrop east of the San Joaquin River.

• The widening of Louise Avenue at McKinley from Fifth Street to the eastern border of incorporated Lathrop at the railroad tracks just west of the Manteca Unified School District offices is “essentially on hold” at the moment until PG&E relocates the roadside transmission lines, said Public Works Director Steve Salvatore.

The council, with Mayor Sayles opposing, decided earlier this year to bring back the study sessions with the development community as a “place for open dialogues.” The decision was to schedule these special meetings once every two months. However, that schedule may change to “as needed” only. Only one member of the development community, Scott J. Huffman, attended Tuesday night’s meeting. Huffman is vice president of Development Services for Watt Companies, Inc. which is working on developing the rest of the Lathrop Marketplace commercial center where Target is currently located.
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